King Pharmaceuticals Extends Tender Offer to Acquire Alpharma

King Pharmaceuticals, Inc. (NYSE: KG) today announced that it is extending its previously announced tender offer for all outstanding shares of Class A Common Stock of Alpharma Inc. (NYSE: ALO) until 5:00 pm, New York City time, on November 21, 2008, unless the offer is further extended. The tender offer was originally scheduled to expire at 5:00 pm, New York City time, on Friday, October 10, 2008. All other terms and conditions of the tender offer remain unchanged. As of the close of business on October 10, 2008, approximately 18.8 million shares of Class A Common Stock of Alpharma (including approximately 3.4 million shares subject to guarantees of delivery), representing approximately 45% of all outstanding shares, were validly tendered and not withdrawn pursuant to the tender offer. On September 12, 2008, King... [read full story]